According to the Text,there Are Three Ways the Government Can

question 50

Multiple Choice

According to the text,there are three ways the government can help increase the accumulation of knowledge capital.What are they?

• A)protecting intellectual property rights,subsidizing research and development,and subsidizing education
• B)increasing taxes on firms,eliminating patents,and increasing the minimum wage
• C)encouraging the use of trade secrets,expanding student loan programs,and increasing the minimum wage
• D)reducing taxes on capital,increasing Social Security payments,and lowering the exchange rate

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Definitions:

Market Value Ethics

The ethical considerations surrounding the determination and influence of the market value of goods and services.

Ethical Relativism

A system of ethical thought that says there is no objective or absolute standard of right and wrong.

Michael Sandel

An American political philosopher and professor, known for his writings on justice, ethics, and democracy.

Cost-Benefit Thinking

A system of thought that focuses on the consequences to one person or institution and then weighs the cost against the benefits of performing the action under scrutiny.